The ingestible sensor market is expected to grow from USD 198.2 Million in 2015 to USD 678.2 Million by 2022, at a CAGR of 20.2% between 2016 and 2022. The medical vertical dominated the ingestible sensor market, and the use of ingestible sensors has revolutionized this vertical. Ingestible sensor defines the first phase of developing a digital medicine platform. In the medical sector, ingestible sensors are used in capsule endoscopy, patient monitoring, and controlled drug delivery applications. This report aims at estimating the current market size and future growth potential of the ingestible sensor market. The base year considered for this study is 2015, and the market forecast is given for the period between 2016 and 2022. The key drivers for ingestible sensor market are real-time patient monitoring, medication adherence, rising number of cases of chronic diseases, and accuracy in performing invasive diagnosis tests. In mature markets such as North America and Europe, the growing number of gastroparesis cases, government policies controlling the healthcare expenditure, and awareness toward ensuring medication adherence play a vital role in driving the demand for ingestible sensor.

The research methodology used to estimate and forecast the ingestible sensor market begins with capturing the data on key ingestible sensor manufacturers through secondary research. The vendors’ offering and their current product portfolio are also considered for this estimation. The final estimation has been made by identifying the percentage share of ingestible sensors in the miniaturized biosensors market for medical, sports and fitness, and other verticals including firefighting, military, animal care, astronautics, and mining, using the bottom-up approach. After arriving at the overall market size, the total market has been split into several segments and subsegments, which have then been verified through primary research by conducting interviews with key experts such as CEOs, VPs, directors, product managers, and others. This data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of the profiles of primaries is depicted in the figure below:

“The study answers several questions for the stakeholders, primarily, which market segments to focus on in the next two to five years for prioritizing the efforts and investments.”

Scope of the Report

The research report segments the ingestible sensor market into the following submarkets:

By Component:

Sensor

Data recorder

Software

By Sensor Type:

Temperature sensor

Pressure sensor

pH sensor

Image sensor

By Vertical:

Medical/healthcare

Sports & fitness

Others

By Geography:

North America

Europe

APAC

MEA & Latin America

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

Product Analysis

Product matrix which gives detailed comparison of the product portfolio of each company

Company Information

Detailed analysis and profiling of additional market players

The ingestible sensor market size is expected to grow from USD 198.2 Million in 2015 to USD 678.2 Million by 2022, at a CAGR of 20.2% between 2016 and 2022. The growing need for medication adherence, increasing rate of chronic diseases, and demand for real-time monitoring create a huge demand for ingestible sensors across the world. The growing complexities in diagnosing and managing chronic diseases and other biomedical activities are creating opportunities for the ingestible sensor market. The expansion of ingestible sensors in novel medical applications such as customized drug delivery is also responsible for contributing to the overall ingestible sensor market. Patients are found to be comfortable and prefer minimally invasive techniques for diagnosis and monitoring. Moreover, ingestible sensors are more accurate than the traditional medical equipment. Therefore, these sensors are in high demand in the medical vertical. In other verticals such as sports, astronauts, animal care, mining, fire-fighting, and military, ingestible sensors are used to signify the core body temperature changes in relation with the extreme working environment. Thus, this market has a great scope for growth in the next five years.

The scope of this report covers the market on the basis of component, sensor type, vertical, and geography. Temperature sensors are expected to hold the largest market share between 2016 and 2022. The image sensor market is expected to grow at the highest CAGR between 2016 and 2022. Using image sensors, doctors can view clear images of different target areas inside the patient’s body to diagnose critical diseases.

Pressure sensor have also contributed to the overall market. These sensors are used in smart pills and capsule endoscopes to determine the biomedical changes in various target areas. In emerging markets such as APAC and RoW, the growth of capsule endoscopy is expected to be more than that in North America and Europe due to the large population base and government support.

In the medical vertical, the diagnosis application dominated the market. Other emerging applications such as drug delivery and monitoring are also gaining a significant market size owing to their contribution in providing accurate healthcare to the patients. Patient monitoring using ingestible sensors helps in enhancing the effectiveness of disease management for both patients and physicians. These sensors determine the condition of a patient’s gastrointestinal tract and track pH and temperature, enabling physicians to understand the main cause of the disease.

North America currently dominates the ingestible sensors market. As treatment procedures using ingestible electronic pills are highly effective and minimally invasive, physicians prefer the use of ingestible sensor technology. In North America, the field of endoscopy has witnessed significant technological advancements over the past few years such as the development of advanced wireless minimally invasive capsule endoscopes.

The Asian market is characterized by the presence of a large population base and high incidence of target diseases. In the APAC ingestible sensors market, established players from various product segments are following the push strategy, which enables them to make their ingestible electronic pills available in this region. Japan, China, and India represent the next promising hubs for the development of ingestible sensors technology-based devices.

The major challenges faced by the market include complex circuit designing and regulatory mandates & standards. Circuit designing for these sensors is the major obstacle faced by companies. The ingestible sensors are miniaturized microelectronics and designing such complex structures needs sophisticated technology and high investment in R&D.

The report profiles the major players in ingestible sensors along with their SWOT analysis. The market has witnessed a series of new product launches along with investments and collaboration among the industry players across the value chain. The major players in the ingestible sensors market are Proteus Digital Health, Inc. (U.S.), HQ, Inc. (U.S.), Given Imaging Ltd. (Israel), Medimetrics Personalized Drug Delivery B.V. (Netherlands), and CapsoVision (U.S.)

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